US Chief Risk Officer, Asset Management and Wealth

In compliance with applicable laws, HSBC is committed to employing only those who are authorized to work in the US. Applicants must be legally authorized to work in the U.S. as HSBC will not engage in immigration sponsorship for this position.

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The US Chief Risk Officer, Asset Management (AM) and Wealth (CRO) is responsible for leading the AM and Wealth and Premier Solutions (WPS) US and Regional Risk function to ensure that both businesses in the Americas region are monitoring and controlling all the risks they face to both HSBC Group standards and market best practices. Americas covers US, Mexico for AM and WPS and for AM only Bermuda.

Risks include but are not limited to investment risk, counter party credit risk, operational risk, financial crime risk, liquidity risk, traded risk, financial/regulatory reporting risk, tax risk, model risk, conduct risk, climate risk, AI risk, DAC risk, legal and regulatory risk as well as overall strategic and reputational risk to the business from any source.

The CRO must be able to direct the effective identification, assessment, management, monitoring and mitigation of risk across all current and potential future risk types, delivering risk oversight over the AM & WPS products and services in the Americas region. The CRO is responsible for protecting the business through appropriate risk management discipline; ensuring risks are captured, understood and clearly communicated to key internal and external stakeholders as required.

The role is responsible for enabling the business through supporting sustainable growth aspirations and the achievement of strategic goals, acting as the single point of contact on all risk issues for the AM and WPS. The CRO oversees effective execution of risk management across the businesses and defines the AM & WPS Americas risk transformation agenda. The CRO is a key member of the US AM and PB&WPS Risk leadership teams as well as the AMUS and WPS US leadership teams and has to manage multiple stakeholders.

• Provide independent input and challenge to the relevant OpCos to define the Risk Strategy and Risk Appetite (ensuring alignment with Group Risk Appetite where necessary)
• Oversee the implementation of the Group Risk Policies (including Credit, Market, Operational, Reputational, Strategic and Sustainability) across AM & WPS Americas, agreeing any local exceptions to Group Risk Policy with relevant Risk Function Heads
• Oversee the implementation and ongoing effectiveness of risk management and associated procedures and controls across AM & WPS Americas, including the assessment of vulnerabilities through stress-testing and scenario analysis
• Provide oversight of the business’ overall risk portfolio through judgement, challenge and analysis of risk and reward, ensuring exposures are managed in a consistent and systematic way in accordance with the parameters set by the AM and WPS Risk Appetite Framework
• Proactively identify, assess and provide a forward-looking view on top and emerging risks and issues within the Risk Map, developing mitigating strategies where necessary
• Oversee implementation of strategic risk related projects and coordination of the risk transformation agenda across AM & WPS Americas, developing a cohesive programme and approach and ensuring changes in one area do not adversely impact another
• Work with the AM Global Heads of Traditional and Alternatives Investment Risk implement the global operating model ensuring that the investment risk metrics and analyses (including but not limited to market, counter party, liquidity, ESG) are fit for purpose and meet business and regulatory requirements across all asset classes

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